Union Budget 2024: Sensex Drops Over 500 Points Following Budget Presentation | ABP News

In her budget speech, Finance Minister Nirmala Sitharaman made a significant announcement regarding income tax, providing a notable relief to the middle class. The new tax regime includes an increase in the standard deduction from ₹50,000 to ₹75,000. This change is expected to benefit many taxpayers by reducing their taxable income and providing additional savings. However, the budget announcement has had a negative impact on the stock markets. Following the presentation of the budget, there was a substantial decline in stock market indices, with the Sensex experiencing a drop of over 500 points. This downturn reflects the market's reaction to the new tax measures and other budgetary provisions.